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6/14/22
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A fully leased 80k sf industrial building in Shafter, CA – in the Bakersfield area -- traded for $12 mil in an off-market transaction. The building sits on 4.7 acres but comes with an adjacent 15.56 acres of undeveloped surplus land, giving the buyer a total of 20.26 acres.
Located at 6850 New Kapittel Ct, the freestanding single-tenant building serves as the headquarters of a high-quality agricultural packaging company. Built in 2016, the structure features 28’ clear height, dock and overhead doors, and 5.5k sf of office space. The property is strategically located just off the Hwy 99, a major freeway running through Central California, at Lerdo Highway, approximately 10 miles north of Bakersfield.
The property was sold by CJS Partners LLC. Cushman & Wakefield’s Scott Reynolds, Wayne Kress and Coby Vance of the firm’s Golden Empire Industrial Team (GEIT) based in Bakersfield represented the buyer in the transaction. The team is currently working with the new owner to market the surplus land, which the owner may either develop themselves and/or sell the parcels to other developers or owner/occupiers.
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